01 — The Text
What.
- Treasury stops producing pennies (except for collectors) immediately upon enactment.
- All cash transactions must round to nearest amount divisible by five cents.
- Pennies remain legal tender but disappear from circulation over time.
- Rule applies to retail sales, wage payments, and any cash transfer.
02 — The Stakes
So what?
- Businesses save on transaction handling and counting time; consumers see slightly rounded prices at checkout.
- Low-income workers paid cash wages see potential rounding gains or losses depending on transaction amounts.
- Collectors lose newly minted pennies but existing pennies retain value.
- Eliminates ongoing Treasury costs of penny production, which exceeds the coin's face value.
03 — The Path
Now what?
- House passed July 14, 2026. Now in Senate Banking Committee—must clear before full Senate vote.
- Bill takes effect one year after enactment, giving businesses time to adapt systems.
- Contact your senator to voice support or opposition before committee hearing.
Legislative History
Actions.
- Jul 15, 2026 — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Jul 14, 2026 — The title of the measure was amended. Agreed to without objection.
- Jul 14, 2026 — Motion to reconsider laid on the table Agreed to without objection.
- Jul 14, 2026 — On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4433-4434)
- Jul 14, 2026 — Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
- Jul 14, 2026 — DEBATE - The House proceeded with forty minutes of debate on H.R. 3074.
- Jul 14, 2026 — Considered under suspension of the rules. (consideration: CR H4432-4438)
- Jul 14, 2026 — Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.